Create an account
Continuous Flow Processing
System that mass produces a single homogenous output in a continuing process
hybrid costing system often used in manufacturing goods that have some common characteristics plus some individual characteristics
subsidiary ledger account
account that records financial transactions for a specific customer, vendor or job
cost of job determined by actual direct material and labor cost plus overhead applied using a predetermined rate and an actual allocation base
cost of job determined by actual direct material and labor cost plus overhead applied using an actual allocation base
cost of job determined by standard (budgeted) direct material and labor cost plus overhead applied using a predetermined overhead rate and a standard (budgeted) allocation base
complex job that often takes months or years to complete and requires the work of many different departments, divisions, or subcontractors
set of activities that transforms raw resources into the goods and services that end users purchase and consume
Those activities that customers perceive as adding utility to the goods or services they purchase
set of firms/individuals that buys and distributes goods and services from the firm
field of accounting that reports the financial position and income according to accounting rules
non value added activities
activities that do not add value to the good or services from the customers perspective
Process of comparing benefits (often measured in savings or increased profits) with costs associated with a proposed change within an organization
specific unit of an organization assigned to a manager who is held accountable for its operations and resources
financial plan of the revenues and resources needed to carry out activities and meet financial goals
costing method that first assigns costs to activities and then assigns them based on the products consumption of activities
metric that indicates how well an individual, business unit, product or firm is working
continual process of measuring a company's own products, services and activities again competitors performance
just in time method
in production or purchasing each unit is produced or purchased just in time for its use
a cost accounting system that provides measures at the work cell or process level and minimizes wasteful or unnecessary transaction processes
customer relationship management
system that allows firms to target profitable customers by assessing customer revenues and costs
having one or more of the firms activities performed by another firm/individual in the supply or distribution chain
total quality management
management method by which the organization seeks to excel on all dimensions with the customer ultimately defining quality
cost of quality
system that identifies the costs of producing low quality items, including rework, returns and lost sales
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